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Short Term Loans
Short term loans are basically loans that people apply for and generally can repay relatively quickly. Now with short term loans, again there are so many companies currently offering this service and it gets quite tricky to determine which offer to go for. |
What we recommend you do is to look at the following:
- How long has the loan company been in business?
- What are the repayment terms and conditions?
- Working out exactly what you monthly instalment will be?
- What happens if you aren't able to pay your monthly repayment fee?
These are the questions that you should be asking your potential short term loan company before signing up with anyone and determine if you will be able to make payment each month.
When looking for a short term loan company it is important to note that you must always read the terms and conditions very carefully to be sure that you are able to pay the monthly instalment. The worst thing you do is to borrow more money and not be able to repay the company.
Previously these types of loans weren't available to consumers and loan companies focussed more in long term loans over periods of 60 or 72 months, but these days the need for a loan over a shorter period of time has become very popular. It is very important that to note that consumers must be able to afford the loan and loans over shorter period, generally have higher interest rates, so be sure to work out exactly what the instalment will be and how you will be able to afford it.
Please feel free to browse through our website and look at all our available resources about loan companies in South Africa.
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